MarieLovesFinance

  Business loans are a common financial tool used by entrepreneurs to fund their ventures and meet various business needs. However, sometimes circumstances can change, making it difficult for business owners to repay their loan EMIs (Equated Monthly Installments) as agreed. Let’s explore the consequences of being unable to repay your business loan EMI and what steps you can take to navigate this situation. Understanding Business Loan EMIs When you borrow a business loan , you agree to repay it in fixed monthly installments known as EMIs. Each EMI consists of two components: the principal amount, which is the actual loan amount borrowed, and the interest charged on the outstanding balance. The EMI is calculated based on the loan tenure and the interest rate agreed upon at the time of borrowing. Consequences of Unable to Repay Business Loan EMIs Late Payment Charges: If you miss an EMI payment or make a late payment, the lender will typically levy late payment charges. These charges can

As a business or an individual, having a good credit score is crucial when seeking a loan. However, if you have a low CIBIL score, getting a loan or availing any financial support can be difficult. A low CIBIL score indicates that you may have had credit defaults or delayed payments in the past, which results in a low credit score. But, there are still some ways to get financing even with a low credit score. Here are 5 ways to get a loan with a low CIBIL score. 1. Get A Loan Against Collateral One of the fastest and easiest ways to get a loan with a low CIBIL score is to apply for a secured loan. Secured loans are those loans in which banks or NBFCs require collateral to be pledged as security. You can apply for loans against assets such as property, gold, and fixed deposits. Also Read: 5 Big Factors That Affect Your CIBIL Score 2. Apply For A Personal Loan With A Co-Applicant Or Guarantor Another way to increase your chances of getting a loan with low CIBIL scores is to apply for a pe